The 11 reports from 5 analysts offering long term price targets
for Arvind Ltd. have an average target of 335.67. The consensus estimate
represents an upside of 432.81%
from the last price of 63.00.
Revenues from Power brands remained constant at | 746 crore (64% of revenues) YoY in Q4FY19. During the quarter, the management decided to discontinue selling to certain MBOs and distributors, which have an elongated credit period. Though it would have a negative impact on revenues in the near term, it would translate to controlled working capital cycle, going forward. Power brands concluded FY19 with revenue growth of 9% YoY to | 2797 crore with robust growth witnessed in innerwear division (USPA brand innerwear revenues grew 2x to | 100 crore). On the...
Power brands: Cash Cow for Arvind Fashions AFL's brand portfolio consists of a balanced mix, with power brands (brands that have crossed | 200 crore in revenues) and emerging brands. Power brands of AFL include Arrow, Tommy Hilfiger, US Polo Association (USPA), and Flying Machine. USPA has turned out to be one of the most profitable brand for AFL, with turnover of over | 1000 crore. Predominantly in casual menswear category, over the years, USPA has successfully leveraged its brand in newer product categories. On profitability front, the entire EBITDA...
Arvind has demerged its branded apparel & retail business and engineering business into separate companies Arvind Fashions Ltd (AFL) and Anup Engineering Ltd (AEL), respectively. This would create three separately listed companies focusing on different businesses which will increase focus on individual businesses. The company management is positive on the long term fundamental of all the entities. As per company PPT, AFL and AEL are expected to be listed on exchanges tentatively in early February 2019. Post demerger, Arvind will be present in two main businesses; textiles ~87%...
ICICI Securities Ltd | Retail Equity Research NCLT has approved the demerger of Arvind Fashions and Anup Engineering from Arvind Ltd. The company has reported financials for its continuing business only. However, for the purpose of comparison, the company has provided the consolidated summary Revenues from the textile division (excluding advanced materials) grew 6.4% YoY to | 1488 crore mainly driven by 15%, 14% growth in the garmenting, woven division, respectively. The denim business...
Arvind Ltd Q2FY19 results Comment Revenue decreased by 0.92% to Rs. 1792.91 Cr in Q2FY19 when compared to the previous quarter. On the other hand, it rose by 13.07% when compared with Q2FY18
We recently met the management of Arvind Ltd. The company is positive on all major businesses textiles, Apparels and engineering business. The company expects to complete demerger of branded apparel business and engineering business in the near future. The company has maintained FY19...
Sector: Textile /Mid-Cap | Earnings Update 1QFY19 Background: Arvind Ltd is the flagship company of the Lalbhai Group, established in 1931. Arvind's business is broadly classified into Textiles, Brand & Retail and others. Textiles, Brand & retail and others which accounts for 55%, 39% and 6% of the revenue respectively. In India, Arvind sells international brands such as Arrow, US Polo Associate, Tommy Hilfiger (JV brand), Calvin Klein (JV brand), IZOD, Elle, TCP, Cherokee, GANT, Hanes, GAP, Wonderbra, Ed Hardy, Geoffrey Beene, Nautica etc. Company has a strong distribution network of 1,336 stores with a retail space of ~2.19mn sq.ft. (Brands: 1,201 stores with ~1.07mn sq.ft retail space & Unlimited: 99 stores...
ICICI Securities Ltd | Retail Equity Research Consolidated revenues for the quarter grew 10.3% YoY to | 2860.96 crore (I-direct estimate: | 2927.5 crore). The growth was accelerated by 14% growth in brand & retail segment to | 1016.4 crore. Revenues from textile segment grew marginally by 2.3% YoY to | 1561.5 crore Despite a 350 bps decline in gross margins to 52.8%, EBITDA margins for the quarter improved 50 bps YoY to 8.6% (I-direct estimate: 9.3%). Lower other expenses (down 460 bps YoY) aided the margin...
6 August 2018 Revenue increased 10% YoY to INR28.6b (est. of INR26b) in 1QFY19, led by Brands & Retail business (up 14% YoY to INR10.1b; INR890m unadjusted stated higher due to Ind-AS adjustment + one-time impact from agreement changes). Textiles business too grew by 2% YoY to INR15.6b. EBITDA grew 18% YoY to INR2.5b (est. of INR2.3b), with the margin expanding 50bp YoY to 8.6% (est. Adj. PAT increased 19% YoY to INR0.
ICICI Securities Ltd | Retail Equity Research Consolidated revenues for the quarter grew 21% YoY to | 2990.0 crore. Strong growth in the brand & retail segment, which grew 28% YoY to | 1071 crore, mainly due to inclusion of Tommy Hilfiger & Calvin Klein in consolidated results, accelerated growth The textiles segment reported decent revenue growth of 9.3% YoY to | 1596.4 crore. Growth in textiles was led by 14% increase in the woven segment to | 605 crore. Denim, garment segment reported...
9% growth in textile: During Q4FY2018, Arvind Limited (Arvind) reported 21.3% y-o-y revenue growth to Rs. 2,990 crore. Revenue from the textile segment grew by 9.3% y-o-y to Rs. 1,596.4 crore mainly led by 13% volume growth in the garment segment and 14% revenue growth in the woven segment. Fabric volume also improved from 56 million metres to 60 million...
~12% in last 30 trading days (16% correction from its recent high) and is providing decent opportunity for investors to enter the stock. The company has planned to demerge its branded & retail (B&R;) business (~Rs. 2,900 crore revenue with OPM of 5% in FY2017) and engineering business (Rs. 179 crore revenue with OPM of 30% in FY2017) in to separate entities to unlock...
Q3FY18 revenue grew 16% YoY to Rs 27 bn on strong 24% YoY growth in Brands & Retail division, supported by 9% YoY growth in textiles segment. However, EBITDA margin declined 90 bps to 9% due to (1) reduction in duty drawbacks and other export incentives and (2) adverse currency movements.
Arvind Ltd Q3FY18 results comment Revenue grew by 2.94% to Rs. 2705.75 Cr in Q3FY18 when compared to the previous quarter. Also, it rose by 15.86% when compared with Q3FY17
ICICI Securities Ltd | Retail Equity Research Revenues for the quarter grew 16% YoY to | 2705.8 crore (I-direct estimate: | 2584.1 crore). Growth was accelerated by higher growth in the brand & retail segment, which grew 24% YoY (mainly due to...
Arvind Ltd Q2FY18 results comment Revenue grew by 6.2% to Rs. 2628.46 Cr in Q2FY18 when compared to the previous quarter. Also, it grew by 12.75% when compared with Q2FY17.
Revenue of ~Rs 100 bn each from Brands & Retail division (~23% CAGR) and Textiles (~10% CAGR) by FY22. Arvind today announced demerger of it Brands & Retail and Engineering divisions into separate companies
